Tuesday, April 5, 2011

Update From CMM Committee

First, the committee wishes to thank everyone for their valuable input.

The Century Mining Shareholders’ Committee met this evening to discuss a variety of subjects.

Over the last two days, we have been receiving numerous pieces of information from shareholders, and we now believe there is sufficient weight of evidence to warn shareholders that we are expecting some negative news to be released by the Company, perhaps as early as tomorrow.

We have heard about negative or poor operational results at Lamaque, as well as the possible shutdown of the operation in Peru.

We would like to remind shareholders that the recent news release about the cone crusher failure at Lamaque was written with an excessively negative tone, and we expect the same thing to occur with this imminent news release.

We believe that their intention is to shake the tree as hard as they can, just before the record date (Thursday April 7), as it is possible to settle trades executed tomorrow before the end of business on the 7th, allowing those shares to vote in May.

The Committee is not in a position to recommend or dictate strategies to shareholders.

However the company's strategy here is transparent. It is designed to purposefully frighten retail shareholders into selling their shares, into their hands, in order for the company to obtain as many shares as they can before the record date.

We urge you not to take the bait, and to remain calm in the face of this manipulation.

In fact, we believe that the best defence is a good offence, and that a good strategy for anyone opposed to the merger is to turn the tables and beat them at their own game.

An artificially depressed share price at this time presents an excellent buying opportunity while at the same time keeping shares in friendly hands.

The Committee is working strongly towards the development of multiple strategies to both protect and enhance shareholder value.

Please continue to submit information to the Committee, as this notice was made possible only with your collective contributions and support.

We are also working towards the development of a Poison Pill strategy, which may be executed as a last resort. When the timing is right, individual strategies will be clearly described, and complete guidance will be offered. We will keep you as well informed as we are able.

CMM Committee


Wingfong said...

In this tussle, I would anticipate our opponent(in this case Fins n Co) to go for one last fear inducing tactic to frighten retails by way of a very negative NR .Imo, the resignation of Peter Ball gives prima facie evidence that he was disturbed by the correctness n fairness of the last NR which was obviously not what he could stand for. As such, I would read any NR release tomorrow (if there is any) with great caution n due delligence.

PayDay said...

Gold is breaking 20 yr highs and we're supposed to believe these JOKERS can't even make a profit from Lamaque and/or San Juan?

Perhaps CMM should revise their M&I down to 113,000 oz, that way we'll command a $400M market cap just like White Tiger!


bigrattler said...

Firstly let me say thank you for all that the committe is doing. Hopefully people realize that a bad news release is a desperate attempt of ridding shareholders by these perpetrators. No matter how low the share price is the gold is still in the ground or these people(Finsky and company) wouldn't be going to great lengths to take this from us. I am guessing that between San Juan and Lamaque there is possibly 8-10 million ounces in the ground(strictly an opinion). Just look at the drill results flowing in from Integra next door, there is gold all over the place and it certainly doesn't stop at a boundry line, remember the Century property and Integra property were all one big land package less then 10 years ago.

After reading the Fortis bank DD, Lamaque should have had no problem being self funding and I think PK's estimates may not have been that far fetched. Seems all the negativity started after she was squeezed out, which made it very easy to blame her for the set backs and other financings that were done which I think were all part of the Finsky grand scheme. Remember Fortis Bank was willing to fund this whole project in return for gold if not for the global financial meltdown and they spent months of DD and if they were willing to do that, then Century can't be that bad of a company as these people are trying to portray.

Once again thank you to the committe.

Ron S. said...

I will buy more shares if we spike down.
Didn't have the guts for one cent area shares, but now we have some momentum (with the converse indicator of manipulation)and production with higher gold price.

To me, not anymore of a gamble than driving in rush hour some days.

nt300 said...

I wonder if the committee can somehow contact PK and Peter Ball for more inside information, so they can put a stop to this Molestation of our company. Price manipulation is written all over this not to mention if a negative NR gets released. Despite the reasons why CMM is trading well below the norm, the markets have spoken; they don’t want this merger period.

Wingfong said...

bigrattler..."I am guessing that between San Juan & Lamaque there is a possibly 8-10 million ounces in the ground..."
We are current at 6 million oz going to hit +/-8 million oz in the next NI43-101 update n going to reach 10 million oz when all the Lamaque targets are fully explored/assessed has always been my contention. Once again I must say that these figures are not some fancy imaginations of mine. On the contrary, these are figures arrived at after hours n hours of work spent in the study of the numerous postings by Prod05 over many months in the first half of 2010. For those who wish to truly understand what CMM really holds in terms of gold in the ground, let me say that there is no other source of info that is better than what Prod05 had produced. So for the inquisitive n serious investors, please study all those postings by Prod05 in the Blog Archive. I am sure U will come to know how n why I have arrived at the above figures. Further more, U will also come to realise the untold potentials of San Juan, the NWT and Alaskian properties which, together with Lamaque, make up the total mining assets of present CMM.